Offer raised
Wormaid International, Ltd, of Australia has raised its offer for the outstanding shares in its local subsidiary, Wormaid International N.Z., Ltd, to 162 cps. Wormaid of Australia launched a bid two weeks ago for the 24 per cent of the subsidiary it did not already own, offering 145 cps. Wormaid directors said yesterday the parent had since lifted the level of its shareholding to 85 per cent.
They said the decision to raise the price came after talks with the independent directors of Wormaid International N.Z., who would recommend acceptance. Stud to receiver The Hastings thoroughbred horse breeder, Paramount Stud, is in receivership. The stud, which has bred numerous trophy winners in its 20 years, was put in receivership by Barclays Bank (N.Z.), Ltd.
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Press, 13 April 1989, Page 24
Word Count
126Offer raised Press, 13 April 1989, Page 24
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